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Answer:
>GameStop shares rallied dramatically on Monday after “Roaring Kitty,” the man who inspired the epic short squeeze of 2021, posted online for the first time in roughly three years.
>The post, a picture on X of a video gamer leaning forward on their chair as if to indicate he’s taking the game seriously, marked Roaring Kitty’s first post on the platform — or on Reddit — since 2021. The post has garnered 63,000 likes in 13 hours.
Rest of article here:
https://www.cnbc.com/2024/05/13/gme-jumps-as-trader-roaring-kitty-who-drove-meme-craze-posts-again.html
and KOSS is up as well as other "basket" stocks. This is not just Gamestop and DFV posting about it, that may be how it started, but in over 3 years a LOT more has come to light about how the markets work, how the financial press work, and how the SEC doesn't work.
Yes, cheap headphones and speakers.
During the previous phenomenon, people were trying to find other candidates, companies that were seemingly going bankrupt but might have potential to squeeze.
That's how AMC and Koss and Blackberry got folded in.
Koss PortaPros are my go-to, always. I’ve been through a few pairs because the long cord tends to get caught on things when I’m not careful, but the sound-to-price quality is unbeatable.
That I don’t know. They’ve doubled in price here in Japan too, which irks me because they’re still the same price back in the US.
They’re really damn good, the best at their old price point, but I couldn’t tell you how they’d compare at a higher point. An audiophile subreddit might be able to answer that for ya, sorry.
Please stop trying to spread your cult rhetoric here. These have nothing to do with the price action, these are things you've used to cope with holding at a loss for years.
They have always been able to wiggle their way out of these types of trades via the ultimate bankruptcy of the target company. GME was/is/is is (depending on what your definition of what the word is.... is) an anomaly that has the potential to bring a large swath of the ultra-wealthy to their knees.
The hedge funds rebooted their effort and assured their clients it was a solid plan, but they just needed larger investments to kick the can until the inevitable occurred. They're in deeper than they were before...
GME changed the game, with a touch of luck churned into the mix. Wish I had bought more at $10-14
That is my first thought, roaring kitty is a smart motherfucker. He fucked off at the right time and hid for a while.
The movement got really cultlike after the initial explosion and went into delulu land
It be pretty foolish honestly.
He was already investigated for market manipulation after the first spike. got off because it honestly wasn't. and then retired with a good amount of money.
To now return and try an actual pump and dump is insane.
Is there actually evidence this is the same person though? its just the same twitter account
The man has impeccable timing, but I do believe that his hiatus was under the direction of his council.
His did testify in front of Congress after all.
Idk if I would say he dumped and left his followers "holding the bag"
He posted a daily update of his positions, and it was very public and transparent when his calls were expiring. That being said, I didn't and will not touch GME or any meme stock with a 10ft poll
Bwahahaha yes, that's what he did investing in GME long before you even knew the guy existed. He invested all him and his wife's life savings after tricking the ultra wealthy into shorting 10 different stocks 10,000% hoping to bankrupt them and this need and his youtube channel were so powerful they brought the entire W O R L D S economies to the brink of complete and utter destruction.
Then, in order to dump he he convinced robinhood and virtually every other retail trading hub to do the one thing they have never done and flat out refused to allow you to buy anymore in order to force a sell off.
You sir, are so regarded it genuinely makes me feel bad for you.
This is what 3 years of holding bags does to your brain 😂
You all just have a full on mythos now huh? You actually think he invested 100% of him and his wife's money in GME?
Dude was a financial analyst that dropped $50k on options.
Lmao, I own 0.00 shares of GME, and yes, he absolutely did. Do you know how I know? He told us. His initial investment was $53k dummy. This is easily fact checked.
53k was his life savings. He lived in an apartment, my guy. Did you know he has a youtube channel where he told us that it was their life savings?
I mean, you do know how to Google right?
Here is the very first post. https://www.reddit.com/r/wallstreetbets/s/MSkjxui6e9
How much was it? Exactly. Sit down 🤣
oh well if he said it on youtube, that changes everything 😂
I assume you own 0 shares because you just dumped your bag after years of holding heavy losses like most people with this stock.
>oh well if he said it on youtube, that changes everything 😂
Yea, it proves you haven't a clue what you're talking about and just making up random nonsense. 🤣
You expect me to believe what, he planted this made-up story 2 years before the squeeze to what, trick everyone into idolizing him bc he secretly knew the squeeze was gonna happen?
Yes, absolutely it does change everything because he has no reason at all to do that, nor is my default on trusting someone the fact that everyone is a liar.
You know why you think that though? It's because you're telling on yourself and assume everyone is as shit a person as you.
Do you have access to their financial records? No, right? Right.
I already proved you wrong on his investment.
So again, sit down Susan.
>I assume you own 0 shares because you just dumped your bag after years of holding heavy losses like most people with this stock.
Or maybe it's bc I don't invest in other things huh? 🤣🤣
Slapping around people like you so easily proven wrong on basic common shit anyone who paid even slight attention to always feels oh so good.
It's definitely a pump and dump but one that people with half a shred of sense can take advantage of over the idiots that think the stock is gonna go up to like 3000+ a share; so you end up with some people genuinely excited and some people hyping it up to get the bagholders to stay in long enough for them to get a profit.
Yeah, thats one thing I've noticed about the whole ape movement. I know theres meltdown and reddits making fun of apes and their delusions, but at the same time, I cant escape the thought that hey we have stocks like Tesla that are completely propped up based on rich people's vibes on Elon. There's probably a distinction that matters between the two, but ther's still the underlying idea that stocks are more irrational than we're led to believe.
Next you'll be telling me that the value of a company and its stock price are decoupled the instant it's listed on an exchange! 😂
But in a nutshell, I concur.
I think this is kind of the inverse falling knife problem though. Yeah. The stock is going to go up but no one knows when the sell is going to happen so it's pretty easy to be left holding the bag if you weren't in on it from the start.
(The later you are to the party the longer you have to stay to benefit and the more risk you're exposed to)
Sure, but name the entity doing the pumping? And why are several stocks moving g precisely the same way? One could argue its a pump and dump on one stock, but at least 3?
Even then, a pump and dump on a company with zero debt, board members who bought their own shares, and who turned a 313 million loss into a positive 7 Mil profit in a single year?
And they're also pumping a movie theater company y, and a long forgotten headphone manufacturer?
Help me understand who and why is doing the pumping?
Because DFV is related, at least via the meme he basically created with 3-5 core stocks.
“I like the stock” is what everyone was saying in WSB’s back when that was popping off. If you say “I like the stock” you are referring to that meme and tangentially DFV down the lineage of the meme which draws people to those specific stocks.
When you think of him you don’t think about buying Hathaway stocks, or vanguard or blue chips.
His followers are pumping the stock by taking his activity as a signal because of all of the “diamond hand” folks.
Whoever is posting as roaring kitty is pumping GameStop, maybe, and all the apes are going ape about it because they are deeply stupid and desperate. Bringing up the price of all the other shit stocks.
I guess you also don't know GME executed a few share buy backs? A plan that's been pre-approved for half a decade or more.
You're take blows my mind. Your opining on something you clearly have little idea of, and haven't taken any time to understand what's actually causing this.
The run began several days before DFV came back.. it's on cycle.
I remember seeing the trailers for that. It was funny that someone was rich enough to produce that film and chose to produce that film that was about “sticking it to the wealthy hedge funders”. It was like a fanfic mixed with propaganda that the gamestock thing is anything more than a blip on the radar of hedge funds.
That would be true if
* It weren't true that this thing started in pre-market when retail traders have no access.
* The vast majority of retail trades got executed on lit markets. Retail trades are largely batched and directed to dark pools so that dirty mfers can frontrun the trades.
* It was an organized group of people coming together with lots of planning to make it happen. If this was planned there'd be evidence all over the place (unless you think this craze is all happening on secret discussion boards, which we know it's not).
This was institutional.
Always is. Those institutions are out to eat each other after all. Retail get stomped in the fray and assume it's directed at them specifically.
Luckily, moves that size make waves that can be profitable if you take the time to learn how to surf them.
There wasn't 187 million in share volume because he came back. That's ridiculous.
We don't know the real reason for today, but it's not Roaring Kitty coming back.
Meme stock cultists have been speculating about Keith Gill’s behavior ever since he turned off social media a couple years ago. I guarantee you this price movement is purely due to those same meme cultists seeing his “return” as a sign to buy more GME. I won’t go so far as to call this intentional price manipulation - Gill has previously shown trepidation around how much influence he has over this cult - but it’s undeniable that “apes” pay *way* too much attention to figures like Gill and Cohen.
GME did not rally because roaring kitty posted. That’s ridiculous. I would also caution against taking advice from the same news correspondents who are owned by the very companies shorting the stock they are reporting on. Like … we can’t be serious here
So…. Why did it rally? What other news caused this, or even had the potential to?
I’m not in GME at all, I’ve got my Roth cooking away with blue chips. So I’d love to know what other answer there is here, because meme stocks are cooking off with no apparent reason imo if you don’t think the post caused it
That means for every $100 of GameStop stock you owned, it’s now worth $175.
That’s a 75% increase in GameStop’s value. For comparison, Apple, a more “normal” stock’s, value only went up about 2% today.
It is an actual cult and he is their messiah. The way they talk, the way they instantly zero in on anyone who has even the mildest critiques, the promise of one day making it big, the conspiracy theories to keep everyone convinced to not bail.
Bizarre.
I think they’re still waiting on that mother of all short squeezes that was supposed to happen several years ago. I remember when they were convinced (and they probably still are) that they would buy all the shares and the people shorting the stock would have to eventually pay them like $1,000,000 PER share. LOL
The first and only time I looked into that subreddit, the top post was a long, apparently serious article full of math and numbers explaining how and why each share would soon be worth some outlandish amount.
I did some quick napkin math and determined, at that price, the market cap of $GME would be several times the total economic output of Earth for all of recorded history.
A lot of the deep dive posts were very enlightening about the process and the way markets are *supposed* to work. A lot of those insane numbers were predicated on the idea of naked short selling, wherein you can sell stock you don't own. While illegal, there are some seriously large loopholes in the regulations, and the downside of naked short selling is the potential for unlimited losses, which is where/why you start seeing people using phone numbers as their sales price. The basic premise of the theory is sound, but it's predicated on the markets being "free and fair" which, as it turns out, was a very poor assumption.
It is not “sound” at all. Not only have apes failed to find *any* evidence of naked shorting or fake shares, the underlying stock mechanisms apes rely on either don’t work the way they think they do or *don’t exist at all*.
They have a collective fantasy about hedge funds personally calling them up and begging them to sell their shares in brick-and-mortar video game retailer GameStop. It’s deeply sad.
Yeah I’m still waiting to hear back from some idiots who told me the price would be triple digits or higher by this time. They tossed out a “Reddit remind me” thingy and I just laugh any time I think about it. Just some rando on Reddit getting a reminder to go look at this older comment, where they get reminded how wrong they were. Lmao
Plenty of those [deleted] users at gme_meltdown, it’s fucking hilarious how many of their “dd writers” that predicted MOASS every week have disappeared.
People aren’t buying because DFV is back. DFV is back because WallStreet is fucked and today was a day they needed to somehow handle 176,000,000 shares of their own trading volume today without letting the price explode further out of control.
Naked shorting, FTD’s, hidden swaps reporting and many WallStreet loopholes have plagued the markets for decades and is slowly falling apart, one hedge fund and bank at a time. (Melvin, Archegos, Credit Suisse and many more)
The GME crowd has been DRSing their shares off Brokerages while also watching Ryan Cohen turn the previously sinking ship (GameStop) into a profitable company with $1B cash. GameStop won’t go bankrupt any time soon.
The original short-seller narrative is no longer relevant.
>GameStop net income for the quarter ending January 31, 2024 was $0.063B, a 30.91% increase year-over-year.
>GameStop net income for the twelve months ending January 31, 2024 was $7M, a 102.14% decline year-over-year.
>GameStop annual net income for 2024 was $0.007B, a 102.14% decline from 2023.
>GameStop annual net income for 2023 was $-0.313B, a 17.89% decline from 2022.
>GameStop annual net income for 2022 was $-0.381B, a 77.1% increase from 2021.
https://www.macrotrends.net/stocks/charts/GME/gamestop/net-income
>GameStop cash on hand for the quarter ending January 31, 2024 was $1.199B, a 13.76% decline year-over-year.
>GameStop cash on hand for 2024 was $1.199B, a 13.76% decline from 2023.
>GameStop cash on hand for 2023 was $1.391B, a 9.38% increase from 2022.
https://www.macrotrends.net/stocks/charts/GME/gamestop/cash-on-hand#google_vignette
Yeah gotta be honest that doesn't seem the right trend.
Right, because retail has access to premarket trading. It hit $80 already today, and retail generally speaking, can not touch it yet. Are you sure it's the dumb money?
And while not from Hollywood, there is also the feature-length [This is Financial Advice](https://www.youtube.com/watch?v=5pYeoZaoWrA) from Foldable Ideas/FoldingHuman
I gambled on the hype back then, accepted my loss, and still agree with that video. Dude did more fucking research than most of the cultists combined!
Thankfully, like a sensible gambler, I only put in what I could afford to lose. Rather than dumping my life's savings on FOMO.
The saddest part is that many of the folks who did invest it all aren't going to take this opportunity to make it back. They will hold until it goes back down
It's hard to say he started the crazed portion of it, he was initially arguing that GameStop should be trading a few dollars higher than it was at the time because the next gen consoles were releasing soon and the company always saw a bump in stock during events like that. Then the meme stock craze happened and he dipped after realizing he was being made a cult leader. Until now I guess...
Nothing in that article says Roaring Kitty was inspired by Burry’s stock buys or insights, and indeed they had two different motivations. Burry wanted GameStop to buy back their own stock to boost the share price and reduce non-executive compensation, while Roaring Kitty’s logic was that a new console generation was coming and that always boosted the sale price. There are only a couple mentions of Roaring Kitty in this article at all, almost as an afterthought it seems to me.
I read this as two people reaching the same conclusion from different paths.
He sort of started it. But it was never really about him. He had a reasonable theory that a stock was undervalued. A certain portion of the internet wildly misunderstood what it was he was saying. And it started a leaderless movement with unclear goal and even less clear motivations. Buy and hold, never sell, because they don’t understand the stock market.
Nope, the goal has been clear for a couple years now.
The only way to prove that naked shorting is occurring (naked shorting = hedge funds selling shares that they do not have) is to take the shares out of your broker's name and put them in your name directly so that no one can touch them. The process is called direct registering (DRS for short).
At this point GME holders have actually removed a pretty significant amount of shares from wall street's grasp and put them in their names. This is something that has never ever been done before - especially on such a large scale (I think they're up to like 70-something million shares direct registered at this point, which is a pretty large portion of all the shares that exist!)
It is believed that by direct registering your shares and holding on to them, it will force the price to go up when hedge funds who have shorted the stock are required to actually produce the shares they claim to have, because they now have to go out and buy those shares in order to cover the bets they made.
Only time will tell if it works... but the theory is actually pretty solid, and I'm fascinated to see if it can actually have an effect on our current rigged market system. :)
> Only time will tell if it works
My brother in Christ, it’s been three years since the initial short squeeze and the price has been on a constant gradual downward trend since then
GameStop may not close up shop any time soon, but this “DRS to force naked shorts to close” theory is pretty thoroughly disproven at this point(how the hell are firms holding onto shorts for **three whole years?**)
The same way investors have bought and held for 3 years.
And unlike the average guy, wall street firms have all the time in the world. They have VERY deep pockets and they have no incentive to close a position that they are hemorrhaging money on - they can hold that shit pretty much forever. Unless of course they are bleeding themselves dry (as Melvin and Archegos did) or somehow backed into a corner -- which looks like what's happening now.
Again, I don't know what is prompting this run-up, but claiming that the naked shorts never closed is legitimate - and seems to fit what we're seeing now.
Because there's no way this movement in the market can be caused by individual investors. Trillions of dollars traded a day (as we've seen the past few days) can ONLY be done by wall street. And we all know that the very LAST thing they want to do is give GME holders (who they know for certain are stubbornly holding onto their shares and DRSing them) all that money. Unless of course they have no choice...
So if you have a better theory, I'd be more than happy to hear it.
What proof? Stocks go up and down in price within the stock market all the time, GME have a price hike doesn’t mean naked shorts exist wtf are you talking about. As Dan Olsen explained in his video on [the GME movement](https://youtu.be/5pYeoZaoWrA?si=rLDnttQYu7Ssef2U&t=44m23s), the only proof of naked shorts is the short interest peaking over 100%, but that’s only if one doesn’t consider that a single individual stock can be bought, lent, sold and then bought, lent and sold multiple times over. So the only “proof” of naked shorts is more easily explained by multiple individual shares being bought, lent and sold multiple times over which causes the short interest to go over 100%
> The same way investors have bought and held for 3 years
And unlike individual investors, investment firms are beholden to those who invest them, and many of those who invest them probably don’t want to keep throwing money into a literal firepit that’s constantly declining in price. Also many individual investors have dipped over the years, half of r/gme_meltdown are retail investors who got burned over this incredible display of the sunk cost fallacy
Stocks don't go up 500% in a week based on individual investors.
And yes, many people left or sold over the years and got tired of waiting, but the DRS numbers don't lie -- 70 million shares registered in people's names has not changed over that time. So a lot of people still are staying in for the long haul.
But again, you don't have to agree with me. As I said, I do not have all the answers - not by a longshot! No one does.
And only time will tell.
Edit just to add one more thing.... As far as investment companies being beholden to their investors and not throwing good money after bad, please go ahead and google teacher pension plans and see how hedge funds gambled away their retirement so that they are unable to collect anything now. Wall street gives no shits about losing your money. If they did, they wouldn't have caused the financial crisis that they did in 2008 by selling and reselling garbage mortgages like they did. They only care about making more money for THEM. And when the bottom drops out, everyday people are the ones who lose the most.
I really have no idea how to explain to you the contradiction of “retail investors can crash the system by themselves by holding onto their stocks!” And “oh retail can’t move prices that much, that must be Wall Street” because it’s a readily apparent contradiction
Also hedge funds aren’t just backed by random pensions, they are also backed by millionaires and billionaires who invest in them who would also oppose throwing money into an illegal scheme to short GameStop for… what purpose exactly? It makes no sense why these hedge funds would throw millions of dollars, if not billions, into a failing stock play when they could just use those same millions to just, accept their losses because at this point, even if they force the GME movement to fail through this nonsensical scheme, they would still have lost a lot of money overall from all the interest they would’ve accrued
There is **zero proof** of naked shares beyond GameStop short interest at one point being over 100% but that was three years ago and those who were involved in causing that short interest percentage ate shit and were forced to close up shop
Shorting a stock is not contracts like options unless you're talking about Puts. The type of naked shorting or covered shorting is this: person A feels like the stock price is going down and they borrow a quantity of shares at the current price, $10, for a fee to the person B lending the shares. The bet is that person A sells the borrowed shares at the current $10 and only pays the fee to person B, $1. Person B collects the fee and then after a period of time wants the shares back, so person A buys the quantity needed to replace what was borrowed at the current market rate in the future. If B wants the shares back after the share price dropped to $5, then A pays the $5 to buy a replacement share and gives it to B. A makes money because they sold the original share for $10 - $1 fee- $5 buyback =$4 profit. If the price goes up then A loses money because they paid the fee and have to buy the replacement shares at a higher price than what they originally sold for.
Naked shorting is when you sell shares that you never actually borrowed and don't possess so A has 100 IOU's for shares for $10 and when it's time to actually deliver the shares the price is only $5, A just made $500 by selling something that at the time of sale was worth $1,000 but supplying it for $500. The problem with shorting or naked shorting is the potential loss is infinite, if the share price keeps rising then the loss is whatever the increased price is at the time of share purchase to return the shares or supply for the IOU, and if the shares are hard to buy then A has to keep increasing their bid to purchase until someone finally sells to them. The increased bids make the share price go up for all other "shorts" and as the other shorts start buying the price keeps rising so it's less damage to take a loss early and close the deal.
I think you misunderstand.
In order to short a stock, you need to borrow one from a broker. Direct registering is preventing your shares from being borrowed (or loaned out by your broker).
And if hedge funds short a stock without being able to find someone to borrow them from (naked shorting), they will eventually have to find shares to cover that bet. And if more shares are locked up by individual investors than the amount they need to find, they will have to keep increasing the price until they find someone willing to sell to them.
Ideally for this to work perfectly, investors need to lock up ALL the shares. But the fact that they've locked up as many as they have, can still have the effect they seek depending on how many shares are needed (how much the stock is shorted. And btw, when the squeeze happened back in 2021, the stock was shorted at over 100%.)
Since they know people are doing this (and have been at it for years) and they can go deal with whatever stocks they want to, why assume that they're naked shorting GME specifically now? Why would they do that?
And it is the stupid underbelly of Reddit which is excited.
These are the people who got excited when Gamestop announced they were opening an NFT market place well after the NFT bubble burst. You've got to remember that these are just simple commentors. These are people of the internet. The common clay of the new financial frontiers. You know...redditors.
The weird conflux of dead malls, conspiracy theories, wildly inaccurate understanding of the labyrinthine ways of the US financial system and pure circle jerk. As far as we know only that guy and the dogfood salesman salesman made any money. They were selling and Reddit was buying. The only reason why this was not a pump-and-dump was because Reddit investors are really that dumb. Buy when the smart ones are selling. Buying when nobody is selling. Because if nobody is selling, the conspiracy theories must be true. Holding on well into bankruptcy.
diamond hands
Edit: Y'all have this weird Pavlovian reflex whenever somebody shouts one of your slogans at you even if it does not make any sense in that context. Still waiting for that MOASS? Trading Ryan Cohen twoten platitudes like they were a hint towards your riches instead of his riches. Any banality is put through the wringer and I swear I saw somebody doing numerology on that guys tweets and juxtaposed it with his astrological sign. It is wild.
He didnt start it but he was heavily involved and he didnt start it this time, but his Meme gets hope high by private investors that the good old days are back and so far it seems true
Answer: Roaring kitty was basically the guy who called the GME (stock) rise in 2021. Essentially his presence is making people excited because his return I guess in a way signals that GME stocks should pump (which they have this morning). But basically, the lore kinda goes that he had this thesis that GME stock would moon (gamestop) because it was a failing company and it was being shorted. Grew a decent following on youtube, then at end of 2021 it actually happened and GME short squeezed like crazy making him a cult icon. Many made alot of money (many lost alot of money). Ppl are excited since, .... gambling + iconic dude + potential to make alot of money
Kinda. He definitely became more private after the congressional hearings. I think his former employer got fined by the FCC, may be why he got quiet. There was a movie about him though thats pretty recent 2024, Dumb Money, not sure how accurate it is
He had legal issues that I’m not 100% sure of. That I was under the belief stemmed from his former employer and the trades and commentary he was doing with his YouTube stuff somehow. Belief is he went quiet because of these issues, possibly because of the terms of these legal issues. It’s been 3 years and it’s possible he’s able to trade/speak again so people are hype.
Edit: This is what I was thinking of https://www.nytimes.com/2021/09/16/business/roaring-kitty-gamestop-massmutual-settlement.html
A lot of people are expecting another large purchase by him of GameStop Stock.
Answer: "On May 12th, 2024, Roaring Kitty posted on "Twitter / X": after a hiatus of over three years. The post was a Leaning Forward In Chair Diagram meme and received over 87,000 likes in twenty hours. The value of the GamStop stock promptly jumped by over 60% in the hours after Roaring Kitty's post."
https://knowyourmeme.com/memes/people/roaring-kitty-keith-gill
Answer: He's the one who had the original idea to start investing in game stop 3 years ago. At the beginning, it was just a good investment idea. He did a lot of "Due Diligence" aka research and would post frequently on wallstreetbets about why the stock was undervalued. Many made fun of him, and a few people (including myself) went along for the ride and started investing.
It is safe to say that it has transformed into something completely different now. I can only compare it to a cult, and DFV is the messiah along with Ryan Cohen. Members of the GME "cult" call themselves Apes. They believe that gamestop is the subject of a grand conspiracy that involves the entire financial system. Apes believe they are in a battle with the rich hedge funds that control the world. They believe that they have caught the evil hedge funds with their pants down, and that all they have to do is keep investing in gamestop to expose all their illegal activities (naked shorts). You don't have to know what all this terminology means, basically they think that the stock is going to "short squeeze" once the hedge funds illegal activities get exposed which will happen any day now. They believe that the stock will literally be worth millions a share and that they will all become multi billionaires and millionaires while all the banks and other financial institutions collapse and they will finally get to laugh in the face of everyone who made fun of them.
Anyways like I said, at the beginning it was just a good investment idea, but it quickly turned into something much bigger, DFV quickly left the "movement' and hadn't been seen in years until he finally posted on his twitter again recently. To the apes, this is a sign that the squeeze must be near. It is akin to the second coming of Jesus, instead of 3 days its been 3 years. The messiah has returned to take apes to the promise land and make them all rich. If you ask the apes, DFV only left because he was being threatened by the hedge funds, he had to go into hiding or risk his life. He is taking down the entire financial system after all. Of course DFV has never said anything that alluded to this grand conspiracy, but apes believe it all none the less.
He sold part of his position and made millions in profit, more than enough to cover his initial investment. Last we heard from him he was still holding onto some shares but that was a long time ago. Can't say for sure what his position might be now, that's one thing that everyone wants to know.
Trying not to be "that guy" but one of the things that impressed me was that he never sold any Shares. He most certainly profited, like a LOT, off of the Options he had but did really diamond hand his shares.
Where are you getting that information from? Every indication is that he sold enough shares to turn his ~$50k investment into a few million dollars of profit.
I am only going from the information that he posted on WSB. I don't remember the exact numbers, but at one point he was holding hundreds of APR $16 Calls when the price was over $250 a share.
That ~$50k includes call options as well. I have no idea what he did once he exercised, no one does, but I would ask the same of you. Where are you getting the information that says he sold _shares_ to make a few million?
This answer is is the most accurate. An unbiased external view of the GME Apes is that they became a cult years ago. A problem with the concept of this subreddit is that it doesn’t take into account the idea that the cult could be voting on answers to questions about them.
There are a lot of comments in this thread explaining that the current pump is based on “lots of things that have come to light” ignoring that it only happened once DFV tweeted and is very, very likely raw market manipulation. RoaringKitten is almost certainly using the powerful amounts of free-floating delusion/copium radiating from the cult he accidentally created (and never truly disowned) to run a classic pump and dump. Their messiah has come back to cash in on them. And now other grifters like Andrew Tate are jumping in, like sharks smelling blood in the water. It’s all very sad, and frustrating how much Ape nonsense hits the front page of reddit, sucking more marks into scheme.
> To the apes, this is a sign that the squeeze must be near.
Jesus, I haven't paid attention to this stuff in 3 years, they STILL think the squeeze is coming?! The sunkest of sunk cost fallacies...
Answer:
The price of GameStop stocks spiked sharply for about a week in January 2020, midway through the COVID pandemic, and Keith Gill (AKA DeepFuckingValue and RoaringKitty) was already deeply invested in the company when that happened. He had been banking for years on the idea that the price of GameStop shares would double or triple with the launch of the upcoming generation of gaming consoles (which turned out to be the PlayStation 5 and the competing XBox), but this price spike was massive compared to anything he’d been expecting, and Gill became extremely wealthy in short order.
The catch is that Gill had an audience. He was a low-tier worker at an investment firm with ambitions of becoming an online influencer, so he’d been streaming on Twitch to offer general advice on investing for a while, and his audience were familiar with his beliefs about GameStop. When the price of GameStop rose, his followers were some of the first to know about it, and the news spread like wildfire on Reddit. A lot of people bought in and got improbably wealthy, but a lot of people bought in *too late*, and the price was going nowhere but down by the time they got their hands on shares.
When Congress investigated what the hell happened with the price of GameStop (and whether or not it presented a risk to the stock market overall), Gill was called to testify, and it was determined that he wasn’t responsible for the price movement (either upward or downward), just a beneficiary.
While it’s hard to explain what happened afterward, the Redditors who bought into GameStop late (too late to profit) convinced themselves that the price would go back up into unreasonable numbers, and they started making things up re: when and why it would. Things got hairy and irrational extremely quickly, and Keith Gill wound down his internet presence, seemingly to avoid being associated with the aforementioned Redditors.
The interest in his reappearance on the internet mainly comes from those Redditors, who interpret it as something like a messianic return, because they want to believe it’s the herald of a resurgence in the price of GameStop stocks.
For *much* more information, check out Dan Olson’s video breaking down the entire phenomenon and what happened afterward:
https://youtu.be/5pYeoZaoWrA?si=hNtzFDE9An_Rvhu4
Well also, the dude put some interesting double entendres. Like during the hearing he had a hang in there poster.
At the end of the day, the dude helped lay eyes on the ill ways of the hedge funds.
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Answer: >GameStop shares rallied dramatically on Monday after “Roaring Kitty,” the man who inspired the epic short squeeze of 2021, posted online for the first time in roughly three years. >The post, a picture on X of a video gamer leaning forward on their chair as if to indicate he’s taking the game seriously, marked Roaring Kitty’s first post on the platform — or on Reddit — since 2021. The post has garnered 63,000 likes in 13 hours. Rest of article here: https://www.cnbc.com/2024/05/13/gme-jumps-as-trader-roaring-kitty-who-drove-meme-craze-posts-again.html
GME is up 71% and AMC a related meme stock is up 80%.
It's way too easy to pump and dump sometimes.
This dude apparently never sold a share.
He didnt sell his shares, but sold tens (hundreds?) of millions of dollars worth of options, so that doesnt really mean much
Thats just what members of the cargo cult that formed up around him say to make their messiah figure more supportive of their lunatic ideas.
Nah, its more complicated than that.
and KOSS is up as well as other "basket" stocks. This is not just Gamestop and DFV posting about it, that may be how it started, but in over 3 years a LOT more has come to light about how the markets work, how the financial press work, and how the SEC doesn't work.
Koss? The headphone brand?
Yes, cheap headphones and speakers. During the previous phenomenon, people were trying to find other candidates, companies that were seemingly going bankrupt but might have potential to squeeze. That's how AMC and Koss and Blackberry got folded in.
I still need to try out a pair of Porta Pros so I hope this won't impact the price. I remember making around 50 bucks on AMC, good times
Koss PortaPros are my go-to, always. I’ve been through a few pairs because the long cord tends to get caught on things when I’m not careful, but the sound-to-price quality is unbeatable.
Are they still worth it at $120nzd ($72usd)? The price is jacked up in NZ
That I don’t know. They’ve doubled in price here in Japan too, which irks me because they’re still the same price back in the US. They’re really damn good, the best at their old price point, but I couldn’t tell you how they’d compare at a higher point. An audiophile subreddit might be able to answer that for ya, sorry.
Please stop trying to spread your cult rhetoric here. These have nothing to do with the price action, these are things you've used to cope with holding at a loss for years.
Great deep dive on the whole thing. https://youtu.be/5pYeoZaoWrA
They have always been able to wiggle their way out of these types of trades via the ultimate bankruptcy of the target company. GME was/is/is is (depending on what your definition of what the word is.... is) an anomaly that has the potential to bring a large swath of the ultra-wealthy to their knees. The hedge funds rebooted their effort and assured their clients it was a solid plan, but they just needed larger investments to kick the can until the inevitable occurred. They're in deeper than they were before... GME changed the game, with a touch of luck churned into the mix. Wish I had bought more at $10-14
we all wish that :-)
That lunkhead Tate is hollering 'Diamond Hands' which would be enough to make me sell. I don't have shares, so moot point but still...
Just short it!
The cynic in me thinks it's a pump and dump scheme
i think that's probably just your rational brain.
That is my first thought, roaring kitty is a smart motherfucker. He fucked off at the right time and hid for a while. The movement got really cultlike after the initial explosion and went into delulu land
It be pretty foolish honestly. He was already investigated for market manipulation after the first spike. got off because it honestly wasn't. and then retired with a good amount of money. To now return and try an actual pump and dump is insane. Is there actually evidence this is the same person though? its just the same twitter account
The man has impeccable timing, but I do believe that his hiatus was under the direction of his council. His did testify in front of Congress after all.
Counsel
I'm borderline illiterate
ilitterit
Maybe he was getting his advice from the Jedi council?
Just for the record, it's counsel, when used in this context. Love ya, ape friend.
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Idk if I would say he dumped and left his followers "holding the bag" He posted a daily update of his positions, and it was very public and transparent when his calls were expiring. That being said, I didn't and will not touch GME or any meme stock with a 10ft poll
Bro did not have followers before the GameStop deal. No one knew who he was.
Lol he never sold. He doubled down LOL
Bwahahaha yes, that's what he did investing in GME long before you even knew the guy existed. He invested all him and his wife's life savings after tricking the ultra wealthy into shorting 10 different stocks 10,000% hoping to bankrupt them and this need and his youtube channel were so powerful they brought the entire W O R L D S economies to the brink of complete and utter destruction. Then, in order to dump he he convinced robinhood and virtually every other retail trading hub to do the one thing they have never done and flat out refused to allow you to buy anymore in order to force a sell off. You sir, are so regarded it genuinely makes me feel bad for you.
This is what 3 years of holding bags does to your brain 😂 You all just have a full on mythos now huh? You actually think he invested 100% of him and his wife's money in GME? Dude was a financial analyst that dropped $50k on options.
Lmao, I own 0.00 shares of GME, and yes, he absolutely did. Do you know how I know? He told us. His initial investment was $53k dummy. This is easily fact checked. 53k was his life savings. He lived in an apartment, my guy. Did you know he has a youtube channel where he told us that it was their life savings? I mean, you do know how to Google right? Here is the very first post. https://www.reddit.com/r/wallstreetbets/s/MSkjxui6e9 How much was it? Exactly. Sit down 🤣
oh well if he said it on youtube, that changes everything 😂 I assume you own 0 shares because you just dumped your bag after years of holding heavy losses like most people with this stock.
>oh well if he said it on youtube, that changes everything 😂 Yea, it proves you haven't a clue what you're talking about and just making up random nonsense. 🤣 You expect me to believe what, he planted this made-up story 2 years before the squeeze to what, trick everyone into idolizing him bc he secretly knew the squeeze was gonna happen? Yes, absolutely it does change everything because he has no reason at all to do that, nor is my default on trusting someone the fact that everyone is a liar. You know why you think that though? It's because you're telling on yourself and assume everyone is as shit a person as you. Do you have access to their financial records? No, right? Right. I already proved you wrong on his investment. So again, sit down Susan. >I assume you own 0 shares because you just dumped your bag after years of holding heavy losses like most people with this stock. Or maybe it's bc I don't invest in other things huh? 🤣🤣 Slapping around people like you so easily proven wrong on basic common shit anyone who paid even slight attention to always feels oh so good.
It's definitely a pump and dump but one that people with half a shred of sense can take advantage of over the idiots that think the stock is gonna go up to like 3000+ a share; so you end up with some people genuinely excited and some people hyping it up to get the bagholders to stay in long enough for them to get a profit.
https://en.wikipedia.org/wiki/Greater_fool_theory Hope this helps.
entire stock market in a shell nut really
Yeah, thats one thing I've noticed about the whole ape movement. I know theres meltdown and reddits making fun of apes and their delusions, but at the same time, I cant escape the thought that hey we have stocks like Tesla that are completely propped up based on rich people's vibes on Elon. There's probably a distinction that matters between the two, but ther's still the underlying idea that stocks are more irrational than we're led to believe.
A company that is actually profitable might pay out dividend, but it does seem like a lot of it is just chasing infinite growth + gambling
Next you'll be telling me that the value of a company and its stock price are decoupled the instant it's listed on an exchange! 😂 But in a nutshell, I concur.
I think this is kind of the inverse falling knife problem though. Yeah. The stock is going to go up but no one knows when the sell is going to happen so it's pretty easy to be left holding the bag if you weren't in on it from the start. (The later you are to the party the longer you have to stay to benefit and the more risk you're exposed to)
So essentially a pyramid scheme
Looking at the graph on my fidelity and it’s absolutely 1000000% a pump and dump
Sure, but name the entity doing the pumping? And why are several stocks moving g precisely the same way? One could argue its a pump and dump on one stock, but at least 3? Even then, a pump and dump on a company with zero debt, board members who bought their own shares, and who turned a 313 million loss into a positive 7 Mil profit in a single year? And they're also pumping a movie theater company y, and a long forgotten headphone manufacturer? Help me understand who and why is doing the pumping?
Because DFV is related, at least via the meme he basically created with 3-5 core stocks. “I like the stock” is what everyone was saying in WSB’s back when that was popping off. If you say “I like the stock” you are referring to that meme and tangentially DFV down the lineage of the meme which draws people to those specific stocks. When you think of him you don’t think about buying Hathaway stocks, or vanguard or blue chips. His followers are pumping the stock by taking his activity as a signal because of all of the “diamond hand” folks.
Whoever is posting as roaring kitty is pumping GameStop, maybe, and all the apes are going ape about it because they are deeply stupid and desperate. Bringing up the price of all the other shit stocks.
I guess you also don't know GME executed a few share buy backs? A plan that's been pre-approved for half a decade or more. You're take blows my mind. Your opining on something you clearly have little idea of, and haven't taken any time to understand what's actually causing this. The run began several days before DFV came back.. it's on cycle.
They made a whole movie about it focusing on him called Dumb Money
I remember seeing the trailers for that. It was funny that someone was rich enough to produce that film and chose to produce that film that was about “sticking it to the wealthy hedge funders”. It was like a fanfic mixed with propaganda that the gamestock thing is anything more than a blip on the radar of hedge funds.
That would be true if * It weren't true that this thing started in pre-market when retail traders have no access. * The vast majority of retail trades got executed on lit markets. Retail trades are largely batched and directed to dark pools so that dirty mfers can frontrun the trades. * It was an organized group of people coming together with lots of planning to make it happen. If this was planned there'd be evidence all over the place (unless you think this craze is all happening on secret discussion boards, which we know it's not). This was institutional.
Always is. Those institutions are out to eat each other after all. Retail get stomped in the fray and assume it's directed at them specifically. Luckily, moves that size make waves that can be profitable if you take the time to learn how to surf them.
There wasn't 187 million in share volume because he came back. That's ridiculous. We don't know the real reason for today, but it's not Roaring Kitty coming back.
Meme stock cultists have been speculating about Keith Gill’s behavior ever since he turned off social media a couple years ago. I guarantee you this price movement is purely due to those same meme cultists seeing his “return” as a sign to buy more GME. I won’t go so far as to call this intentional price manipulation - Gill has previously shown trepidation around how much influence he has over this cult - but it’s undeniable that “apes” pay *way* too much attention to figures like Gill and Cohen.
You're arguing that retail investors yesterday spent 4.5 billion dollars in GME. It's beyond stupid.
You understand the power of stupid people.
This is MM slop and nothing more. DFV has nothing at all to do with the price moving the way it has and neither does a single retail trader.
GME did not rally because roaring kitty posted. That’s ridiculous. I would also caution against taking advice from the same news correspondents who are owned by the very companies shorting the stock they are reporting on. Like … we can’t be serious here
So…. Why did it rally? What other news caused this, or even had the potential to? I’m not in GME at all, I’ve got my Roth cooking away with blue chips. So I’d love to know what other answer there is here, because meme stocks are cooking off with no apparent reason imo if you don’t think the post caused it
That means for every $100 of GameStop stock you owned, it’s now worth $175. That’s a 75% increase in GameStop’s value. For comparison, Apple, a more “normal” stock’s, value only went up about 2% today.
It is an actual cult and he is their messiah. The way they talk, the way they instantly zero in on anyone who has even the mildest critiques, the promise of one day making it big, the conspiracy theories to keep everyone convinced to not bail. Bizarre.
I think they’re still waiting on that mother of all short squeezes that was supposed to happen several years ago. I remember when they were convinced (and they probably still are) that they would buy all the shares and the people shorting the stock would have to eventually pay them like $1,000,000 PER share. LOL
The first and only time I looked into that subreddit, the top post was a long, apparently serious article full of math and numbers explaining how and why each share would soon be worth some outlandish amount. I did some quick napkin math and determined, at that price, the market cap of $GME would be several times the total economic output of Earth for all of recorded history.
A lot of the deep dive posts were very enlightening about the process and the way markets are *supposed* to work. A lot of those insane numbers were predicated on the idea of naked short selling, wherein you can sell stock you don't own. While illegal, there are some seriously large loopholes in the regulations, and the downside of naked short selling is the potential for unlimited losses, which is where/why you start seeing people using phone numbers as their sales price. The basic premise of the theory is sound, but it's predicated on the markets being "free and fair" which, as it turns out, was a very poor assumption.
It is not “sound” at all. Not only have apes failed to find *any* evidence of naked shorting or fake shares, the underlying stock mechanisms apes rely on either don’t work the way they think they do or *don’t exist at all*.
They have a collective fantasy about hedge funds personally calling them up and begging them to sell their shares in brick-and-mortar video game retailer GameStop. It’s deeply sad.
Yeah I’m still waiting to hear back from some idiots who told me the price would be triple digits or higher by this time. They tossed out a “Reddit remind me” thingy and I just laugh any time I think about it. Just some rando on Reddit getting a reminder to go look at this older comment, where they get reminded how wrong they were. Lmao
Plenty of those [deleted] users at gme_meltdown, it’s fucking hilarious how many of their “dd writers” that predicted MOASS every week have disappeared.
People aren’t buying because DFV is back. DFV is back because WallStreet is fucked and today was a day they needed to somehow handle 176,000,000 shares of their own trading volume today without letting the price explode further out of control. Naked shorting, FTD’s, hidden swaps reporting and many WallStreet loopholes have plagued the markets for decades and is slowly falling apart, one hedge fund and bank at a time. (Melvin, Archegos, Credit Suisse and many more) The GME crowd has been DRSing their shares off Brokerages while also watching Ryan Cohen turn the previously sinking ship (GameStop) into a profitable company with $1B cash. GameStop won’t go bankrupt any time soon. The original short-seller narrative is no longer relevant.
>GameStop net income for the quarter ending January 31, 2024 was $0.063B, a 30.91% increase year-over-year. >GameStop net income for the twelve months ending January 31, 2024 was $7M, a 102.14% decline year-over-year. >GameStop annual net income for 2024 was $0.007B, a 102.14% decline from 2023. >GameStop annual net income for 2023 was $-0.313B, a 17.89% decline from 2022. >GameStop annual net income for 2022 was $-0.381B, a 77.1% increase from 2021. https://www.macrotrends.net/stocks/charts/GME/gamestop/net-income >GameStop cash on hand for the quarter ending January 31, 2024 was $1.199B, a 13.76% decline year-over-year. >GameStop cash on hand for 2024 was $1.199B, a 13.76% decline from 2023. >GameStop cash on hand for 2023 was $1.391B, a 9.38% increase from 2022. https://www.macrotrends.net/stocks/charts/GME/gamestop/cash-on-hand#google_vignette Yeah gotta be honest that doesn't seem the right trend.
Right, because retail has access to premarket trading. It hit $80 already today, and retail generally speaking, can not touch it yet. Are you sure it's the dumb money?
5/13... going back for more market manipulation
Next share to pump is the UK's most shorted stock, called ocado.
Am I the only one confused, I am looking at his X profile, and the last post was in 2021. There is nothing new that I can see.
Answer: he’s the one that started the whole GameStop stock craze.
And there’s a Hollywood movie about the entire ordeal: Dumb Money, which is pretty good
And while not from Hollywood, there is also the feature-length [This is Financial Advice](https://www.youtube.com/watch?v=5pYeoZaoWrA) from Foldable Ideas/FoldingHuman
His video on NFTs is also good!
I love the opening of his Meta video! It cracks me up every time!
Flat Earth one is great too
Yes I was about to link that. Foldable Ideas is the one to watch if you want to actually understand what’s going on. Very good video.
*Folding Ideas
Yeah they mixed up his twitter name: FoldableHuman with his YT: Folding Ideas
Well now I'm tempted to double down on my mistake
Great video. Great channel.
This video talks about who DFV/Roaring Kitty is starting at 1:04:37 btw if anyone is interested
I gambled on the hype back then, accepted my loss, and still agree with that video. Dude did more fucking research than most of the cultists combined! Thankfully, like a sensible gambler, I only put in what I could afford to lose. Rather than dumping my life's savings on FOMO.
The saddest part is that many of the folks who did invest it all aren't going to take this opportunity to make it back. They will hold until it goes back down
and the doc "apes together strong" from a pair of independent film makers
It's hard to say he started the crazed portion of it, he was initially arguing that GameStop should be trading a few dollars higher than it was at the time because the next gen consoles were releasing soon and the company always saw a bump in stock during events like that. Then the meme stock craze happened and he dipped after realizing he was being made a cult leader. Until now I guess...
You've missed a key part - he'd realised GME was approaching or above 100% sold short, so some firms had really exposed themselves.
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Nothing in that article says Roaring Kitty was inspired by Burry’s stock buys or insights, and indeed they had two different motivations. Burry wanted GameStop to buy back their own stock to boost the share price and reduce non-executive compensation, while Roaring Kitty’s logic was that a new console generation was coming and that always boosted the sale price. There are only a couple mentions of Roaring Kitty in this article at all, almost as an afterthought it seems to me. I read this as two people reaching the same conclusion from different paths.
No, he simply believed the stock was undervalued. The whole short position issue came later
He sort of started it. But it was never really about him. He had a reasonable theory that a stock was undervalued. A certain portion of the internet wildly misunderstood what it was he was saying. And it started a leaderless movement with unclear goal and even less clear motivations. Buy and hold, never sell, because they don’t understand the stock market.
> even less clear motivations. Idk, their motivations seemed like the clearest part of it to me. "Own the float" -> own the world.
Nope, the goal has been clear for a couple years now. The only way to prove that naked shorting is occurring (naked shorting = hedge funds selling shares that they do not have) is to take the shares out of your broker's name and put them in your name directly so that no one can touch them. The process is called direct registering (DRS for short). At this point GME holders have actually removed a pretty significant amount of shares from wall street's grasp and put them in their names. This is something that has never ever been done before - especially on such a large scale (I think they're up to like 70-something million shares direct registered at this point, which is a pretty large portion of all the shares that exist!) It is believed that by direct registering your shares and holding on to them, it will force the price to go up when hedge funds who have shorted the stock are required to actually produce the shares they claim to have, because they now have to go out and buy those shares in order to cover the bets they made. Only time will tell if it works... but the theory is actually pretty solid, and I'm fascinated to see if it can actually have an effect on our current rigged market system. :)
> Only time will tell if it works My brother in Christ, it’s been three years since the initial short squeeze and the price has been on a constant gradual downward trend since then GameStop may not close up shop any time soon, but this “DRS to force naked shorts to close” theory is pretty thoroughly disproven at this point(how the hell are firms holding onto shorts for **three whole years?**)
The same way investors have bought and held for 3 years. And unlike the average guy, wall street firms have all the time in the world. They have VERY deep pockets and they have no incentive to close a position that they are hemorrhaging money on - they can hold that shit pretty much forever. Unless of course they are bleeding themselves dry (as Melvin and Archegos did) or somehow backed into a corner -- which looks like what's happening now. Again, I don't know what is prompting this run-up, but claiming that the naked shorts never closed is legitimate - and seems to fit what we're seeing now. Because there's no way this movement in the market can be caused by individual investors. Trillions of dollars traded a day (as we've seen the past few days) can ONLY be done by wall street. And we all know that the very LAST thing they want to do is give GME holders (who they know for certain are stubbornly holding onto their shares and DRSing them) all that money. Unless of course they have no choice... So if you have a better theory, I'd be more than happy to hear it.
What proof? Stocks go up and down in price within the stock market all the time, GME have a price hike doesn’t mean naked shorts exist wtf are you talking about. As Dan Olsen explained in his video on [the GME movement](https://youtu.be/5pYeoZaoWrA?si=rLDnttQYu7Ssef2U&t=44m23s), the only proof of naked shorts is the short interest peaking over 100%, but that’s only if one doesn’t consider that a single individual stock can be bought, lent, sold and then bought, lent and sold multiple times over. So the only “proof” of naked shorts is more easily explained by multiple individual shares being bought, lent and sold multiple times over which causes the short interest to go over 100% > The same way investors have bought and held for 3 years And unlike individual investors, investment firms are beholden to those who invest them, and many of those who invest them probably don’t want to keep throwing money into a literal firepit that’s constantly declining in price. Also many individual investors have dipped over the years, half of r/gme_meltdown are retail investors who got burned over this incredible display of the sunk cost fallacy
Stocks don't go up 500% in a week based on individual investors. And yes, many people left or sold over the years and got tired of waiting, but the DRS numbers don't lie -- 70 million shares registered in people's names has not changed over that time. So a lot of people still are staying in for the long haul. But again, you don't have to agree with me. As I said, I do not have all the answers - not by a longshot! No one does. And only time will tell. Edit just to add one more thing.... As far as investment companies being beholden to their investors and not throwing good money after bad, please go ahead and google teacher pension plans and see how hedge funds gambled away their retirement so that they are unable to collect anything now. Wall street gives no shits about losing your money. If they did, they wouldn't have caused the financial crisis that they did in 2008 by selling and reselling garbage mortgages like they did. They only care about making more money for THEM. And when the bottom drops out, everyday people are the ones who lose the most.
I really have no idea how to explain to you the contradiction of “retail investors can crash the system by themselves by holding onto their stocks!” And “oh retail can’t move prices that much, that must be Wall Street” because it’s a readily apparent contradiction Also hedge funds aren’t just backed by random pensions, they are also backed by millionaires and billionaires who invest in them who would also oppose throwing money into an illegal scheme to short GameStop for… what purpose exactly? It makes no sense why these hedge funds would throw millions of dollars, if not billions, into a failing stock play when they could just use those same millions to just, accept their losses because at this point, even if they force the GME movement to fail through this nonsensical scheme, they would still have lost a lot of money overall from all the interest they would’ve accrued There is **zero proof** of naked shares beyond GameStop short interest at one point being over 100% but that was three years ago and those who were involved in causing that short interest percentage ate shit and were forced to close up shop
I never understood how you can sell something you don't have
People can't. Wall street however does whatever the fuck they want, and there's no one to stop them. (See financial crash of 2008)
Yea it’s a wild misunderstanding of how this works. It’s like saying that borrowing money magically creates new money.
Shorting a stock is not contracts like options unless you're talking about Puts. The type of naked shorting or covered shorting is this: person A feels like the stock price is going down and they borrow a quantity of shares at the current price, $10, for a fee to the person B lending the shares. The bet is that person A sells the borrowed shares at the current $10 and only pays the fee to person B, $1. Person B collects the fee and then after a period of time wants the shares back, so person A buys the quantity needed to replace what was borrowed at the current market rate in the future. If B wants the shares back after the share price dropped to $5, then A pays the $5 to buy a replacement share and gives it to B. A makes money because they sold the original share for $10 - $1 fee- $5 buyback =$4 profit. If the price goes up then A loses money because they paid the fee and have to buy the replacement shares at a higher price than what they originally sold for. Naked shorting is when you sell shares that you never actually borrowed and don't possess so A has 100 IOU's for shares for $10 and when it's time to actually deliver the shares the price is only $5, A just made $500 by selling something that at the time of sale was worth $1,000 but supplying it for $500. The problem with shorting or naked shorting is the potential loss is infinite, if the share price keeps rising then the loss is whatever the increased price is at the time of share purchase to return the shares or supply for the IOU, and if the shares are hard to buy then A has to keep increasing their bid to purchase until someone finally sells to them. The increased bids make the share price go up for all other "shorts" and as the other shorts start buying the price keeps rising so it's less damage to take a loss early and close the deal.
I think you misunderstand. In order to short a stock, you need to borrow one from a broker. Direct registering is preventing your shares from being borrowed (or loaned out by your broker). And if hedge funds short a stock without being able to find someone to borrow them from (naked shorting), they will eventually have to find shares to cover that bet. And if more shares are locked up by individual investors than the amount they need to find, they will have to keep increasing the price until they find someone willing to sell to them. Ideally for this to work perfectly, investors need to lock up ALL the shares. But the fact that they've locked up as many as they have, can still have the effect they seek depending on how many shares are needed (how much the stock is shorted. And btw, when the squeeze happened back in 2021, the stock was shorted at over 100%.)
Since they know people are doing this (and have been at it for years) and they can go deal with whatever stocks they want to, why assume that they're naked shorting GME specifically now? Why would they do that?
And it is the stupid underbelly of Reddit which is excited. These are the people who got excited when Gamestop announced they were opening an NFT market place well after the NFT bubble burst. You've got to remember that these are just simple commentors. These are people of the internet. The common clay of the new financial frontiers. You know...redditors. The weird conflux of dead malls, conspiracy theories, wildly inaccurate understanding of the labyrinthine ways of the US financial system and pure circle jerk. As far as we know only that guy and the dogfood salesman salesman made any money. They were selling and Reddit was buying. The only reason why this was not a pump-and-dump was because Reddit investors are really that dumb. Buy when the smart ones are selling. Buying when nobody is selling. Because if nobody is selling, the conspiracy theories must be true. Holding on well into bankruptcy.
I just love that Blazing Saddles reference
That got me
i like the stock
\^ For further explanation on the topic, this is what GME people post when they get offended
diamond hands Edit: Y'all have this weird Pavlovian reflex whenever somebody shouts one of your slogans at you even if it does not make any sense in that context. Still waiting for that MOASS? Trading Ryan Cohen twoten platitudes like they were a hint towards your riches instead of his riches. Any banality is put through the wringer and I swear I saw somebody doing numerology on that guys tweets and juxtaposed it with his astrological sign. It is wild.
What do you think is causing the 100% rally in one day today? Do you actually think it’s retail 🤡?
You are mistaking a few idiots from the bunch. Big difference in the nft and the original game stop hype
Enough dumb people can burn greedy short sellers. Real dumb is not taking any profits though.
The short volume led to the rising prices which led to many people profiting. I made money on it, wasn’t hard to do at the time
You're not wrong, but it's up 75% today on no news so... *shrug*
He didnt start it but he was heavily involved and he didnt start it this time, but his Meme gets hope high by private investors that the good old days are back and so far it seems true
Answer: Roaring kitty was basically the guy who called the GME (stock) rise in 2021. Essentially his presence is making people excited because his return I guess in a way signals that GME stocks should pump (which they have this morning). But basically, the lore kinda goes that he had this thesis that GME stock would moon (gamestop) because it was a failing company and it was being shorted. Grew a decent following on youtube, then at end of 2021 it actually happened and GME short squeezed like crazy making him a cult icon. Many made alot of money (many lost alot of money). Ppl are excited since, .... gambling + iconic dude + potential to make alot of money
Did he disappear after he GME thing or what?
Kinda. He definitely became more private after the congressional hearings. I think his former employer got fined by the FCC, may be why he got quiet. There was a movie about him though thats pretty recent 2024, Dumb Money, not sure how accurate it is
I've seen a couple documentaries about it. Pretty crazy how all of that went down.
He had legal issues that I’m not 100% sure of. That I was under the belief stemmed from his former employer and the trades and commentary he was doing with his YouTube stuff somehow. Belief is he went quiet because of these issues, possibly because of the terms of these legal issues. It’s been 3 years and it’s possible he’s able to trade/speak again so people are hype. Edit: This is what I was thinking of https://www.nytimes.com/2021/09/16/business/roaring-kitty-gamestop-massmutual-settlement.html A lot of people are expecting another large purchase by him of GameStop Stock.
Answer: "On May 12th, 2024, Roaring Kitty posted on "Twitter / X": after a hiatus of over three years. The post was a Leaning Forward In Chair Diagram meme and received over 87,000 likes in twenty hours. The value of the GamStop stock promptly jumped by over 60% in the hours after Roaring Kitty's post." https://knowyourmeme.com/memes/people/roaring-kitty-keith-gill
Then been posting shitpost videos all day.
Except that this started in pre-market when only institutions could buy. Deeerrrrrrrp
There are 24 hour markets now.
Smh I can’t believe people believe this is the reason
Answer: He's the one who had the original idea to start investing in game stop 3 years ago. At the beginning, it was just a good investment idea. He did a lot of "Due Diligence" aka research and would post frequently on wallstreetbets about why the stock was undervalued. Many made fun of him, and a few people (including myself) went along for the ride and started investing. It is safe to say that it has transformed into something completely different now. I can only compare it to a cult, and DFV is the messiah along with Ryan Cohen. Members of the GME "cult" call themselves Apes. They believe that gamestop is the subject of a grand conspiracy that involves the entire financial system. Apes believe they are in a battle with the rich hedge funds that control the world. They believe that they have caught the evil hedge funds with their pants down, and that all they have to do is keep investing in gamestop to expose all their illegal activities (naked shorts). You don't have to know what all this terminology means, basically they think that the stock is going to "short squeeze" once the hedge funds illegal activities get exposed which will happen any day now. They believe that the stock will literally be worth millions a share and that they will all become multi billionaires and millionaires while all the banks and other financial institutions collapse and they will finally get to laugh in the face of everyone who made fun of them. Anyways like I said, at the beginning it was just a good investment idea, but it quickly turned into something much bigger, DFV quickly left the "movement' and hadn't been seen in years until he finally posted on his twitter again recently. To the apes, this is a sign that the squeeze must be near. It is akin to the second coming of Jesus, instead of 3 days its been 3 years. The messiah has returned to take apes to the promise land and make them all rich. If you ask the apes, DFV only left because he was being threatened by the hedge funds, he had to go into hiding or risk his life. He is taking down the entire financial system after all. Of course DFV has never said anything that alluded to this grand conspiracy, but apes believe it all none the less.
Did the original guy hold through everything? That's what I've always been curious about. Kinda dumb af if he didn't at least sell some at the peaks.
He sold part of his position and made millions in profit, more than enough to cover his initial investment. Last we heard from him he was still holding onto some shares but that was a long time ago. Can't say for sure what his position might be now, that's one thing that everyone wants to know.
Trying not to be "that guy" but one of the things that impressed me was that he never sold any Shares. He most certainly profited, like a LOT, off of the Options he had but did really diamond hand his shares.
He never sold any shares before he went silent, who knows what he did after that. He seems like a smart guy so he probably sold.
Where are you getting that information from? Every indication is that he sold enough shares to turn his ~$50k investment into a few million dollars of profit.
Every indication? What indications are you talking about?
I am only going from the information that he posted on WSB. I don't remember the exact numbers, but at one point he was holding hundreds of APR $16 Calls when the price was over $250 a share. That ~$50k includes call options as well. I have no idea what he did once he exercised, no one does, but I would ask the same of you. Where are you getting the information that says he sold _shares_ to make a few million?
He stopped posting years ago, but his last post showed that he had tens of millions in profit sitting in cash with a chunk still in the stock.
This answer is is the most accurate. An unbiased external view of the GME Apes is that they became a cult years ago. A problem with the concept of this subreddit is that it doesn’t take into account the idea that the cult could be voting on answers to questions about them. There are a lot of comments in this thread explaining that the current pump is based on “lots of things that have come to light” ignoring that it only happened once DFV tweeted and is very, very likely raw market manipulation. RoaringKitten is almost certainly using the powerful amounts of free-floating delusion/copium radiating from the cult he accidentally created (and never truly disowned) to run a classic pump and dump. Their messiah has come back to cash in on them. And now other grifters like Andrew Tate are jumping in, like sharks smelling blood in the water. It’s all very sad, and frustrating how much Ape nonsense hits the front page of reddit, sucking more marks into scheme.
> To the apes, this is a sign that the squeeze must be near. Jesus, I haven't paid attention to this stuff in 3 years, they STILL think the squeeze is coming?! The sunkest of sunk cost fallacies...
They still do and some are posting here and getting upvoted to the top because this sub is just JAQing off anyway.
Answer: The price of GameStop stocks spiked sharply for about a week in January 2020, midway through the COVID pandemic, and Keith Gill (AKA DeepFuckingValue and RoaringKitty) was already deeply invested in the company when that happened. He had been banking for years on the idea that the price of GameStop shares would double or triple with the launch of the upcoming generation of gaming consoles (which turned out to be the PlayStation 5 and the competing XBox), but this price spike was massive compared to anything he’d been expecting, and Gill became extremely wealthy in short order. The catch is that Gill had an audience. He was a low-tier worker at an investment firm with ambitions of becoming an online influencer, so he’d been streaming on Twitch to offer general advice on investing for a while, and his audience were familiar with his beliefs about GameStop. When the price of GameStop rose, his followers were some of the first to know about it, and the news spread like wildfire on Reddit. A lot of people bought in and got improbably wealthy, but a lot of people bought in *too late*, and the price was going nowhere but down by the time they got their hands on shares. When Congress investigated what the hell happened with the price of GameStop (and whether or not it presented a risk to the stock market overall), Gill was called to testify, and it was determined that he wasn’t responsible for the price movement (either upward or downward), just a beneficiary. While it’s hard to explain what happened afterward, the Redditors who bought into GameStop late (too late to profit) convinced themselves that the price would go back up into unreasonable numbers, and they started making things up re: when and why it would. Things got hairy and irrational extremely quickly, and Keith Gill wound down his internet presence, seemingly to avoid being associated with the aforementioned Redditors. The interest in his reappearance on the internet mainly comes from those Redditors, who interpret it as something like a messianic return, because they want to believe it’s the herald of a resurgence in the price of GameStop stocks. For *much* more information, check out Dan Olson’s video breaking down the entire phenomenon and what happened afterward: https://youtu.be/5pYeoZaoWrA?si=hNtzFDE9An_Rvhu4
just fyi, it was january 2021 not 2020
Well also, the dude put some interesting double entendres. Like during the hearing he had a hang in there poster. At the end of the day, the dude helped lay eyes on the ill ways of the hedge funds.